Nationwide cuts rates
For those with a 10% deposit, 2 year fixed rate products now start at 3.34% with a £999 fee, while 5 year fixed rate deals with a £999 fee start at 3.89%.
For those customers with a Nationwide main current account, there is a range of new rates for the Flexclusive* 4 year fixed rate products, with the 90% LTV rate with a £999 fee reduced by 0.20% to 3.74%.
Henry Jordan, Nationwide’s head of mortgages, said: “Nationwide remains committed to our heritage of helping customers get a foot on the first step of the property ladder. This new range of competitive fixed rates, with a particular focus on customers with smaller deposits, compliments the recently launched £500 cashback for all first time buyers.”
All first time buyers, regardless of product choice, will now receive a £500 cashback. The first time buyer cashback is offered in addition to any further cashback provided through both Nationwide’s Save to Buy, which offers a cashback of up to £1,000 to savers taking out a Save to Buy mortgage, and with Flexclusive* mortgage deals, which offer the choice between a £250 cashback or free standard legal work.
Existing mortgage customers benefit from at least an additional 0.10% discount on all new customer rates. Remortgage customers benefit from free standard valuation and the choice between free standard legal work or £250 cashback. The £500 cashback first time buyer cashback will be paid directly to the customer’s bank account within a month of completion.